Aurora Cannabis Inc. is pleased to announce that its wholly owned subsidiary, Aurora Cannabis Enterprises Inc., a licensed producer and distributor of medicinal cannabis pursuant to the Marihuana for Medical Purposes Regulations (MMPR), received approval from Health Canada on 16 February 2016, to produce derivative cannabis products through a Section 56 exemption to the Controlled Drugs and Substances Act (CDSA).
Aurora’s pharmaceutical-grade CGMP compliant supercritical CO2 fluid extraction (SFE) equipment was acquired last summer in anticipation of receiving Health Canada’s Section 56 approvals. The best-in-class equipment is designed for solvent-free extraction of the active compounds of the cannabis plant while preserving its full terpenoid profile, all of which have generally accepted therapeutic benefits.
Aurora is confident that there will be tremendous demand for these new products, which are conservatively forecasted to contribute 30% additional revenues and improve the company’s profit margins. Aurora’s facility, with 55,200 square feet of expandable licensed production space, is expected to be running at full capacity by spring 2016, has a demonstrated capability of producing more than 8000 kg of dried cannabis annually.
Neil Belot, Chief Brand Officer, comments, “Different methods of administration offer different medical benefits. For patients who are managing certain conditions and symptoms these products can be more appropriate than dried flower. Aurora’s new product line will offer clients more treatment options allowing them to choice from various forms of cannabis for medical purposes.”
The Company recently launched its revamped website at www.AuroraMJ.com and has registered more than 500 patients since 4 January 2016. All of Aurora’s dried cannabis products are priced at $8/g, and a $5/g compassionate pricing standard.
Aurora CEO, Terry Booth, says: “We are thrilled to reach this major milestone. Our extract-based products produced under the Aurora Standard will raise the bar for the industry and provide patients across the country with reliable, consistent, contaminant free, cannabis derivative products.”
The Company intends on rolling out a suite of medical cannabis extract-based derivative products unlike any other currently available through the MMPR today. Terry Booth added: “Aurora is more confident than ever that profitability will be reached in the shortest time frame of any publicly traded Licensed Producer in the MMPR industry to date.”